XML 26 R3.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Aug. 31, 2013
May 31, 2013
Current Assets:    
Cash and cash equivalents $ 2,085,463 $ 2,469,796
Accounts receivable, less allowance for doubtful accounts of $120,405 and $115,730 as of August 31, 2013 and May 31, 2013, respectively 903,249 871,660
Inventories, net 1,791,443 1,571,221
Prepaid expenses and other 181,151 196,678
Deferred tax assets, current portion 144,000 144,000
Total current assets 5,105,306 5,253,355
Property and Equipment, net of accumulated depreciation and amortization 620,572 654,620
Deferred Tax Assets, net of current portion 85,000 85,000
Investments 165,324 165,324
Intangible Assets, net 157,744 165,200
Other Assets 71,388 71,388
Total Assets 6,205,334 6,394,887
Current Liabilities:    
Accounts payable and accrued expenses 324,652 351,917
Accrued compensation 211,852 207,976
Total Current Liabilities 536,504 559,893
Commitments and Contingencies (Note 5)      
Shareholders' Equity:    
Preferred stock, no par value authorized 5,000,000 shares, none issued and none outstanding at August 31, 2013 and May 31, 2013      
Common stock, $0.08 par value authorized 25,000,000 shares, issued and outstanding 7,276,714 and 7,274,714 at August 31 and May 31, 2013, respectively 582,136 581,976
Additional paid-in-capital 18,035,877 18,034,396
Accumulated other comprehensive loss (9,097) (9,006)
Accumulated deficit (12,940,086) (12,772,372)
Total Shareholders' Equity 5,668,830 5,834,994
Total Liabilities and Shareholders' Equity $ 6,205,334 $ 6,394,887